Jumbo Loans

Jumbo Loans:
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits which is $424,100. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes, and usually require a higher down payment than traditional loans.  Generally the down payment is 20% of the purchase price.  Having said that CM Mortgage has lenders that only require 10% down.  We offer adjustable rate mortgage and fixed rate options for this product.